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$1.5 million reversal revises Greer State Bank's valuation

Published on Thursday, September 12, 2013

Greer Bancshares Inc., the parent company of Greer State Bank, revised its previously reported second quarter net income attributable to common shareholders from $7.7 million or $3.12 per diluted common share to $6.2 million or $2.53 per diluted common share.

The valuation allowance reversal was recorded as $5.3 million and has been revised to be $3.9 million.

Greer State Bank reported it remains well capitalized with tier one leverage capital of 10.52 percent after the revision, which was previously reported as 10.57 percent.

 

 

Businesses mentioned in this article.

Greer State Bank

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